1. It is often used to take the piss and when the end of the word is more exaggerated eg " Boyo " it can show a sense of dominance from the person speaking the word.

2. But, if it goes too far, your mate may just say: "Oh, it's just a bit of Bants." take the piss take the mickey In the event you take the Bants too far, you might be said to be taking the piss (out of them).